Northern Trust (NASDAQ:NTRS) Price Target Raised to $97.00

Northern Trust (NASDAQ:NTRS) had its price target boosted by stock analysts at Morgan Stanley from $93.00 to $97.00 in a report released on Monday, Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s target price points to a potential upside of 7.95% from the company’s previous close.

NTRS has been the topic of several other reports. Royal Bank of Canada upped their target price on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Keefe, Bruyette & Woods lowered their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $84.00 to $82.00 in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.75.

Northern Trust Stock Performance

NTRS traded down $0.21 on Monday, reaching $89.86. The company had a trading volume of 175,049 shares, compared to its average volume of 1,310,781. Northern Trust has a 1 year low of $62.44 and a 1 year high of $92.82. The stock has a market capitalization of $18.38 billion, a PE ratio of 19.84, a P/E/G ratio of 1.53 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $87.88 and a 200-day moving average price of $85.61.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the company earned $1.79 earnings per share. The business’s revenue was up 53.8% compared to the same quarter last year. As a group, research analysts forecast that Northern Trust will post 7.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock valued at $1,191,388 over the last quarter. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Olistico Wealth LLC bought a new stake in Northern Trust in the 2nd quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Northern Trust during the 2nd quarter worth about $26,000. Spartan Planning & Wealth Management raised its position in shares of Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after buying an additional 317 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Northern Trust during the 2nd quarter worth about $30,000. Finally, Versant Capital Management Inc raised its position in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 337 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.